Tag Archives: Cross River Homes

How Much Does it Cost to Install Countertops? | Cross River NY Real Estate

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Whether in the kitchen or bathroom, the countertop can be the star of the room. A countertop should fit both your aesthetic style and your lifestyle. How much you pay for your countertops will depend on the sizes needed, the materials used and the labor involved.
Countertops usually get a lot of use. You don’t want to spend money on something that loses its beauty quickly or chips easily. The more you plan to use your counters, the more durability must be a major concern.
Laminate Countertops

Laminate provides the best selection of colors and patterns at the lowest prices. Laminate can be used to form a seamless cove backsplash to keep spills from seeping behind the cabinets. They’re also cheap and easy to install. The down sides? Laminate scratches or chips easily. It can be tough to clean, and its colors can fade over time.

Ceramic Tile Countertops

No surface offers more choices than tile. The price you pay for tile will largely depend on where you get them. Go for a big box store and you can go as cheap as $10 per square foot. Contact an artist in Florence, and you could pay $5,000 per tile. Tile can adapt as easily to Mexican fiesta as it can to Tokyo contemporary. There are two downsides of tile. One is that it can expensive to install, depending on the square footage of your counters. The other is grout lines, which attract crumbs and stains and require periodic sealing to repel moisture.

Stone Slab Countertops (Granite, Marble, Quartz, etc)

Not much can add dazzle to your kitchen or bathroom like a stone slab countertop. The sheer beauty, amazing selection and durability of stone makes it an excellent choice for your home. The depth and character of natural stone cannot be matched by any man-made surface (though some made-made alternatives have taken great strides.) Natural stone does not depreciate with time and this stone will consistently add value to your home. The costs of the stone depend on how rare its elements, the size and particularly the length of the necessary cuts, which must be finished, buffed and polished. You can sometimes save big money on stone slabs by shopping through remnants.

Acrylic Countertops

The most popular of the acrylics is Corian by DuPont. Corian provides the color versatility of laminates with a rich look (and price) that rivals stone slabs. It’s easy to maintain. Scratches and nicks can easily be buffed out. If you want to create a seamless look, Corian can even be formed into sinks, so there’s no gap between the counter and the sink. Price is determined largely by square footage.

Other Expenses

You may want to also add a new sink or new faucets to your installation. This can be an additional cost, not only in purchasing the hardware, but the installation as well. If you’re going with a stone slab, you have the additional cost of cutting the hole. You also may need to hire a plumber, especially if you want to install something new like an instant hot water dispenser or side spray.

If you are upgrading and replacing your existing counters, you may have to pay for their removal from not only their current location, but from your home as well. Debris removal is normally not a huge expense, but it’s one you should talk with your contractor about nonetheless.

Foreclosure filings plummet in November | Cross River Homes

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U.S. foreclosure filings plummeted 37 percent in November from a year ago and 15 percent from October, according to the latest report from foreclosure data aggregator RealtyTrac.

The 113,454 properties that were served with a default notice, scheduled for auction or repossessed by a bank in November represented the biggest month-over-month drop in foreclosure activity since November 2010, when foreclosure activity dropped 21 percent after the robo-signing scandal broke.

“While some of the decrease in November can be attributed to seasonality, the depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all but guaranteed,” said Daren Blomquist, vice president of RealtyTrac, in a statement.

Only three of the 20 largest U.S. metros posted annual increases in foreclosure activity: Baltimore (up 46 percent), Philadelphia (up 34 percent), and Washington, D.C. (up 6 percent).

– See more at: http://www.inman.com/2013/12/11/foreclosure-filings-plummet-in-november/?utm_source=20131212&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.xJyMjjbG.dpuf

Toll Brothers earnings fall in 4Q, drop year-over-year | Cross River Real Estate

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Toll Brothers (TOL), the nation’s largest luxury homebuilder, reported a 65% drop in its net income for fiscal year 2013 versus fiscal year 2012, following a fourth quarter that beat estimates, but was still down from last year.

The firm’s fiscal-year 2013 earnings declined to $170.6 million, or $0.97 per share diluted, compared to earnings of $487.1 million, or $2.86 per share diluted, for fiscal year 2012.

Fourth-quarter earnings for 2013 were $94.9 million, or $0.54 per share diluted, compared to $411.4 million, or $2.35 per share, in fiscal year 2012.

A tax benefit in the fourth quarter of last year could account for some of the disparity.

Toll Brothers’ deferred-tax asset valuation allowance reversal was $394.7 million for the fourth quarter of 2012, versus $4.6 million for their fourth quarter in 2013.

Douglas Yearley, chief executive officer for Toll Brothers, focused on the positive growth the company saw in 2013.

“With revenues and contracts up over 40%, backlog up over 50% and operating income up over 200%, fiscal year 2013 was an excellent year for Toll Brothers,” Yearling said.

Fourth quarter 2013 revenues rose 65% to $1.04 billion compared to the fourth quarter of 2012, with a 36% increase in units to 1,485 deliveries.

The average price of homes delivered rose to $703,000 in the fourth quarter, topping $651,000 in the third quarter of 2013 and $582,000 in the fourth quarter last year.

 

 

http://www.housingwire.com/articles/28253-toll-brothers-earnings-down-for-fourth-quarter-and-fiscal-year-2013

Concern Grows that Aging Home Equity Loans Threaten New ‘Wave of Disaster’ | Cross River Real Estate

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Nearly half of the nation’s outstanding second lien home equity lines of credit (HELOC) will amortize over the next several years, raising monthly payments and increasing the risk of a rash of new delinquencies that could result in new defaults and foreclosures.

Lender Processing Services today joined Equifax in raising alarms about prospect that aging HELOC loans written in the final years of the housing boom could result in a huge number of defaults, creating a “wave of disaster.”

Some 48 percent of outstanding second lien home equity lines of credit, which were originated between 2004 and 2006, will begin amortizing on their tenth anniversaries.. As the payments on these HELOCs become fully amortizing, many borrowers may see monthly payments increase.  Recent increases in new problem loans among HELOCs originated prior to 2004 that have already begun amortizing indicate the huge wave of newly amortized loans poses increased risk of more delinquencies ahead, LPS said.

“In the aggregate, the home equity market is experiencing lower delinquencies,” said LPS Senior Vice President Herb Blecher. “However, among the HELOC population that has already begun amortizing, we are actually seeing an increase in new seriously delinquent loans. As of today, only 14 percent of second  lien HELOCs have passed this 10-year mark, leaving a very large segment of the market at risk of payment increases over the coming years. Nearly half of all of these lines of credit were originated between 2004 and 2006, with the oldest set to begin amortizing next year. If this trend toward post-amortizing delinquencies carries over, we could be looking at significant risk to the home equity market over the coming years.”

 

 

http://www.realestateeconomywatch.com/2013/12/concern-grows-that-wave-of-aging-home-equity-loans-threatens-new-%e2%80%98wave-of-disaster%e2%80%99/

NJ’s priciest listing comes with 2 barns and a silo | Cross River NY Homes

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If it’s not clear what you might do with a 20,000-square-foot home that sits on 127 acres and comes with two barns and a 50-foot silo, the address should clue you in that the answer is not “farm.”7 Yearling Path, in Colts Neck, N.J., is being marketed as an “exquisite equestrian estate” that, in addition to all the amenities for horses, comes with some nice perks for humans, too — like marble showers in the 10 bathrooms, a kitchen that can serve 250 people, a gym, and a theater with platform seating.

At the moment, it’s the priciest single-family listing in New Jersey, Marlboro-ColtsNeckPatch reports. The property taxes alone set the current owner back $67,634 in 2012, according to details about the listing, represented by Pamela “Pam” Molloy of Coldwell Banker Holmdel, published by the brokerage. Source: coldwellbankermoves.com

 

 

– See more at: http://www.inman.com/wire/priciest-nj-listing-9-bedroom-equestrian-estate-on-127-acres-for-34-999m/#sthash.83wN5XHW.dpuf

How can I make a worn wood floor look new again? | Cross River Homes

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Sunlight, dents and foot traffic can all take their toll on a wood floor,  causing it to appear worn and resulting in reduced stain color. But with a few  key supplies, you can revive worn wood flooring without heavy-duty sanding. (See  below for an instructional video on how to refinish a worn wood  floor.)

How to Refinish Wood Floors

Start refurbishing your floor by finding a wood stain that matches the color  of your existing floor. If you can’t find an exact match, choose a color that’s  slightly darker. Experiment with the stain by rubbing it into a 1- or  2-square-foot area to see how it looks. The best wood stain I’ve found for this  job, Minwax PolyShades, is actually a stain and sealer combination.

Stained floors need some kind of protective coating over the stain. The  easiest coating to apply is oil-based urethane with a satin sheen, but — just as  you did with the stain — you’ll have to experiment with the product before  coating the entire floor. You don’t want to find out later that your urethane is  incompatible with your stain, which would cause it to peel and pucker. Apply two  coats of urethane over the 1- or 2-square-foot section of floor you stained, and  then live with it for a week.

If both the wood stain and the coating are compatible with the wood, you can  tackle the whole floor. Start by giving the wood a light sanding with 120- or  180-grit sandpaper in a 1/4-sheet finishing sander to roughen any remaining  urethane slightly, then vacuum every last bit of dust and dirt off of the floor  before rubbing in stain. Wearing rubber gloves, rub the stain everywhere, giving  special attention to dented, scratched and worn areas. Let the stain dry for a  day, and then apply two coats of the protective urethane (apply the second coat  after the first coat dries). If all goes well, you’ll end up with a distressed  but elegant floor that looks even better than a freshly sanded floor.

Read more: http://www.motherearthnews.com/green-homes/how-to-refinish-wood-floors-zm0z13onzsor.aspx#ixzz2mzNBRbym

How to Assess Your Own Site for Solar Potential | Cross River Homes

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With  the current federal tax credits and some local utilities offering incentives,  tapping into solar power is more affordable and pays off sooner than it did four  years ago. Before you bring a solar energy expert out to your house, take some  time to check your site yourself. Evaluating your home for solar is simple: Just  follow these four easy steps.

Check  your paperwork. To be eligible for the solar  incentives from the government and/or utility companies, the person who owns the  system (you) must own the property where the solar array will be installed. The  utility account for the property must be in your name as well.

Check  the orientation. Southern-facing roofs are optimal; west-facing is  the next best. Do none of your roofs face the best directions? Fear not. There  are solutions. Many people use pole mounts and racked panels to maximize their  solar production.

Check  your view. Even a little shading can create a big problem. There are  systems designed to deal effectively with some shading but there is a limit.  There are ways to deal with shading challenges. Obvious solutions are mounting  panels to poles or racks. For one Olympia, Wash., family the best place for  their system was in their backyard. So, they built a pergola and used the  photovoltaic panels as shading.

More  dramatic (and often less desirable) solutions to shading would be removing trees  that cause shading. A good solar installer will be able to give you a reasonable  estimate of how effective tree removal would be before you  break out the chainsaw.

Check  your structure. Outside: If solar panels will be installed  on your roof, you need to take a good look at the roof itself. If the roofing is  due to be replaced in the next 10 years, get it replaced before you have solar  installed. To save money, roofers can replace just the area where solar panels  are being installed. The rest of the roof can be replaced down the line.

 

Your  roof and its supporting structure needs to be in good condition. Solar panels’ additional weight is minimal, but damaged and/or aging roofs require a different  approach. If your roof is sagging, bowing or crumbling, getting your home safe  and solid should be the highest priority.

Inside:  Your home’s wiring needs to be up-to-date. The panels’ electric requirements are  pretty low, but it’s best to make sure your home’s system is able to handle the  additional needs.

Read more: http://www.motherearthnews.com/renewable-energy/how-to-assess-your-own-site-for-solar-potentialzb0z1311zacai.aspx#ixzz2mhvS0TmT

Housing market gets some upbeat news | Cross River Homes

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U.S. single-family home prices rose in September and posted their strongest  annualized gain in 7-1/2 years, a closely watched survey said on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas gained  0.7 percent in September on a non-seasonally adjusted basis, matching the  Reuters forecast.

Earlier, the Commerce Department said permits for future U.S. home construction rose to their highest level in nearly 5-1/2 years in October.

“Housing continues to emerge from the financial  crisis: the proportion of homes in foreclosure is declining and consumers’  balance sheets are strengthening,” David Blitzer, chairman of the index  committee at S&P Dow Jones Indices, said in a statement.

“The longer  run question is whether household formation continues to recover and if home  ownership will return to the peak levels seen in 2004.”

Prices in the 20  cities rose 13.3 percent year-over-year, the strongest gain since February 2006,  topping expectations for a 13 percent year-on-year advance.

Meanwhile, the Commerce Department said building permits jumped 6.2 percent to a seasonally adjusted annual rate of 1.03 million units. That was the highest rate since June 2008. Permits increased 5.2 percent in September.

August’s permits were revised to a 926,000-unit pace from the previously reported 918,000 units. Permits lead housing starts by at least a month.

The Department postponed the release of housing starts and completions for September and October until December 18 because the collection of data was affected by a 16-day shutdown of the government last month. November data also will be published at that time.

The partial shutdown of the federal government also delayed the publishing of the September and October permits reports.

Economists polled by Reuters had expected building permits at a 930,000-unit rate in October.

While permits are not counted in gross domestic product (GDP), they are a key indicator of economic activity and the sturdy gains in both September and October should ease concerns the housing market recovery was stalling.

Higher mortgage rates have slowed the pace of home sales, but demand for accommodation as household formation continues to recover from multi-decade lows is expected to keep residential construction supported.

Home resales fell in October for a second straight month and confidence among single-family home builders has ebbed somewhat since nearing an eight-year high in August.

Permits for the multifamily home sector surged 15.3 percent in October after increasing 20.1 percent in September. Permits for buildings with five units or more reached their highest level since June 2008.

Single-family home permits, the largest segment of the market, increased 0.8 percent after falling 1.9 percent in September.

 

 

http://www.nbcnews.com/business/some-good-news-housing-market-building-permits-leap-2D11658882